FDIC Guidance on Common Consumer Compliance Violations

The FDIC has issued supervisory guidance that highlights areas of consumer compliance concern for examiners, including Truth in Lending disclosure requirements, UDAAP violations involving multiple non-sufficient funds (NSF) fees for representment of the same transaction, and the Real Estate Settlement Procedures Act anti-kickback rule. The guidance included in the most recent edition of the FDIC’s Consumer Compliance Supervisory Highlights, released on April 5, provides an overview of the most frequently cited consumer protection violations cited by examiners during 2022. The guidance describes UDAAP violations resulting from the practice of charging multiple NSF fees for the same represented transaction as among the top regulatory areas of concern cited for violations. Click here to read the FDIC Guidance.